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> deadwood like bankruptcy for private industry

Unless a given industry is too big too fail, or requires millions to billions in corporate welfare, or where bankruptcy voids responsibility of ecological disasters and socializes the damage. Since those things have obviously never happened.

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It’s bad when the government does those things. That doesn’t change the fact that no such feedback mechanism exists for the government, which comprises almost 40% of GDP (in the U.S. including state and local).

The government should NEVER bail out a private business of any kind. There should also be no limited liability for companies... that would prevent issues where an owner abuses the environment then walks away with the fortune he made while the company goes bankrupt from lawsuits.

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